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☆ One of Russia's richest oligarchs who now lives in Dubai says Putin's invasion of Ukraine made him a 'pariah'
▼ + stars: | 2023-09-02 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

One of Russia's richest men, Andrey Melnichenko, said the Ukraine war had made him a "pariah." Melnichenko now lives in the UAE, where his $300 million Motor Yacht A is moored. His $578 million Sailing Yacht A was seized by Italian authorities shortly after he was sanctioned. AdvertisementAdvertisementOne of Russia's richest individuals said he'd become a "pariah" in the United Arab Emirates where he fled after being sanctioned. Oleg Tinkov managed to get sanctions against him in the UK lifted after slamming Putin's invasion of Ukraine and getting the backing of British business tycoon Richard Branson.

Persons: Andrey Melnichenko, Melnichenko, he'd, Vladimir Putin, I'm, Roman Abramovich, Arkady Volozh, Oleg Tinkov, Richard Branson Organizations: United, United Arab Emirates, Financial Times, Forbes, Chelsea FC, Bloomberg, EU Locations: Ukraine, UAE, United Arab, Russia, Israel, Le

☆ Russia sends some of its most elite paratroopers to the south of Ukraine as counteroffensive breaks through
▼ + stars: | 2023-08-28 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Russia has sent elements of an elite paratrooper division to the south of Ukraine, reports say. Ukraine recently sent its powerhouse 82nd Air Assault Brigade into battle in Robotyne, which helped it achieve its breakthrough, per Forbes. Using the 76th in the south suggests Russia lacks reserves, experts sayElements of Russia's elite 76th Guard Air Assault Division have been deployed in key parts of Ukraine throughout the conflict. Russia's decision to redeploy elements of these units to the south suggests that Russian forces lack sizable operational reserves, the ISW said. The units sent to Robotyne appear to have been moved from the Kremmina area in eastern Ukraine, ISW noted.

Persons: Rob Lee, ISW Organizations: Analysts, Service, 76th Guard Air Assault Division, Foreign Policy Research Institute, Reuters, Air Assault Brigade, Forbes, Twitter Locations: Russia, Ukraine, Wall, Silicon, Robotyne, Zaporizhzhia, Philadelphia, Azov

☆ Robert Kennedy Jr. and his wife Cheryl Hines are worth an estimated $15 million, according to Forbes
▼ + stars: | 2023-08-18 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Robert F. Kennedy Jr. and his wife, actress Cheryl Hines, are worth roughly $15 million, per Forbes. Forbes noted that one of the major reasons Kennedy does not have more money is "the Kennedy family tree has a lot of branches." RFK Jr. Forbes estimated in 2015 that the entire Kennedy family fortune was worth $1.2 billion. According to Forbes, Hines also has two retirement accounts, which hold between $600,000 and $1.7 million, mainly in stock and bond index funds. Some of Kennedy's family members have been outspoken in their support of President Joe Biden, and he's struggled to make in-roads with Democrats.

Persons: Robert F, Kennedy Jr, Cheryl Hines, Kennedy, Forbes, Robert Kennedy, Ethel Kennedy, John F, Australia Caroline Kennedy, Madonna, Kevin J, Kennedy's, Hines, Joe Biden, he's Organizations: Forbes, Service, RFK Jr, Madonna LLP, Children's Health Defense, Democratic Locations: Wall, Silicon, Australia, Los Angeles, Hyannis Port , Massachusetts

☆ The story behind Uline, the packaging powerhouse whose reclusive billionaire owners use their fortune to influence American politics
▼ + stars: | 2023-08-18 | by ( ) www.businessinsider.com time to read: +7 min

Every company has to start somewhere, and for Uline, that beginning was 1980 in the Illinois basement of Dick and Liz Uihlein. Dick Uihlein started Uline to sell a product called a carton sizer, "one of the neatest little tools I'd ever seen." Bit by bit, the Uihleins added more packing supplies to their selection and slashed delivery times to the minimum — a decade before Jeff Bezos launched Amazon. "It's weird to develop a love of corrugated boxes and shipping supplies, but I really enjoy it," Liz told the Milwaukee BizTimes in 2020. The Uihlein family as featured on the Uline website.

Persons: Uline, Liz, Dick Uihlein, Donald Trump, there's, Forbes, Uline wasn't, Dick, Liz Uihlein, Schlitz beer's, Jeff Bezos, Scott Walker, Ron Johnson, Elizabeth Uihlein, Jacob Peters, Paul Morigi, Ron DeSantis, ProPublica, it's, Ronald Reagan Organizations: Service, Stanford, National, Milwaukee BizTimes, White House, Politico, isn't, ProPublica Locations: North America, Wall, Silicon, Illinois, Chicago, Pleasant Prairie , Wisconsin, Wisconsin, Florida, Ohio

☆ How a US government program advocated using nuclear explosions for construction, farming radioactive crops, and blasting holes in the moon
▼ + stars: | 2023-07-31 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +13 min

Most focused on the potential for nuclear explosions to quickly excavate areas for construction projects at lower costs than conventional explosives. (Hamblin is the author of the book "The Wretched Atom: America's Global Gamble with Peaceful Nuclear Technology.") Fly the radioactive skiesUS officials also hoped nuclear energy could be used for transportation. Nicknamed the "pan-atomic canal," nuclear explosions would have carved a sea-level waterway through Nicaragua, Panama, or Colombia, per Forbes. Corbis via Getty ImagesFor Hamblin, the concept of "peaceful nuclear explosions" fell out of favor in the mid-70s.

Persons: Christopher Nolan's, Oppenheimer, Jacob Hamblin, Dwight D, Eisenhower, Alex Wellerstein, Hamblin, you've, Dr Leonard Reiffel, Alaska's Cape Thompson, Edward Teller, detonations, Rio, Iran —, —, Corbis, Wellerstein, Marshall, we're Organizations: Service, White, Nevada . U.S . Department of Energy Office, Scientific, Atomic Energy, UN, United Nations, IAEA Imagebank, United, US Atomic Energy Commission, Technology, Institute of Radiation, Google, NASA, Sputnik, Air Force, U.S . Department of Energy, National Nuclear Security Administration, AEC, of Energy, Popular Mechanics, New York Times, Carryall, US Department of Energy, Forbes, Atomic Energy Commission, Getty, IAEA Locations: Wall, Silicon, Suez, Nevada ., United Nations, New York, Hitachiomiya, Japan, Soviet Union, Nevada, Alaska's Cape, inconveniently, Israel, Panama, Nicaragua, Colombia, Pacific, Farmington , New Mexico, Rulison , Colorado, Rio Blanco, , Colorado, Iran, Mercury , Nevada, USA, Cuba, Vietnam, Colorado, New Mexico, Nevada —, Marshall

☆ Soccer superstar Cristiano Ronaldo pumps money into luxury watch resale marketplace Chrono24
▼ + stars: | 2023-07-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Cristiano Ronaldo has become an investor in Chrono24, the global luxury watch resale marketplace. International soccer superstar Cristiano Ronaldo has become an investor in Chrono24, CEO Tim Stracke told Insider in an exclusive interview. Luxury watch resale prices have declined for more than a year. The investment comes at a rocky time for the luxury watch resale market, which has seen more than a year of price declines following the tightening of interest rates and the implosion of crypto. Stracke says he and Ronaldo both believe in the long-term prospects of the watch resale market.

Persons: Cristiano Ronaldo, Ronaldo, Tim Stracke, Forbes, Stracke, Chrono24, Bernard Arnault, Al Nassr, – Stracke, Jacob &, Franck Muller Cintree Curvex, Georgina Rodríguez Organizations: Aglae Ventures, Service, International, Manchester United, Portuguese national team, Nike, Rolex, Excel, Rodríguez's Rolex Locations: Chrono24, Wall, Silicon, Saudi, Dubai

☆ Ukraine told to investigate its military use of banned 'butterfly' antipersonnel mines in war with Russia, says human rights group
▼ + stars: | 2023-07-01 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Human Rights Watch told Ukraine to investigate its military's use of banned "butterfly" mines. It called for Ukraine to investigate the use of PFM-1 antipersonnel mines in Izium in 2022. It cites photos showing debris from Uragan 9M27K3 rockets carrying antipersonnel mines. The group had called for Ukraine to investigate the use of Russian-made PFM-1 antipersonnel mines around the eastern Ukrainian city of Izium between April and September 2022. HRW said it had unearthed more evidence that Ukraine used the banned mines in 2022 and has informed the Ukrainian government.

Persons: —, Forbes, Steve Goose Organizations: Rights Watch, Service, HRW, Human Rights Locations: Ukraine, Izium, Ukrainian, Russia, Afghanistan

☆ Michael Jordan is selling the Charlotte Hornets — and he stands to make billions
▼ + stars: | 2023-06-17 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Michael Jordan has agreed to sell his majority stake in his NBA team the Charlotte Hornets. The Hornets are valued at $3 billion, per ESPN — more than 10 times the sum Jordan paid in 2010. Michael Jordan could bag a billion-dollar windfall after he agreed to sell his NBA team for what's likely be a huge premium on the price he paid 13 years ago. Jordan previously sold a minority stake in the Hornets to Plotkin, who is the founder of investment firm Tallwoods Capital, and Daniel Sundheim in 2019. Rapper J. Cole is also part of the group that will buy Jordan's majority stake, the Hornets said.

Persons: Michael Jordan, Gabe Plotkin, Rick Schnall, Jordan, Plotkin, Daniel Sundheim, J, Cole, Schnall, He'll, Air Jordan Organizations: NBA, Charlotte Hornets, Hornets, ESPN, Morning, Tallwoods Capital, Charlotte Bobcats, Atlanta Hawks NBA, Nike, Air, Forbes Locations: Forbes

☆ Ukraine has destroyed 2 prized Russian thermobaric rocket launchers. They were taken out by US-supplied howitzers, say reports
▼ + stars: | 2023-06-11 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Ukraine appears to have destroyed two Russian thermobaric rocket launchers, using US artillery. If Ukraine continues to damage these systems, it could affect Russia's defensive capabilities, ISW said. Images of destroyed TOS-1A heavy thermobaric rocket launchers have circulated on social media from respected war-monitor platforms. —🇺🇦 Ukraine Weapons Tracker (@UAWeapons) June 9, 2023The thermobaric rocket launchers are mounted on top of tanks and can launch rockets up to two miles, per Forbes. Serhii Mykhalchuk/Getty ImagesAlthough Russia has a limited supply of highly destructive weapons, Russian sources have highlighted the use of them in striking Ukrainian positions in recent days, ISW said.

Persons: ISW, — Organizations: Service, Washington DC, of Locations: Ukraine, Russian, Russia, Western

☆ A New York supermarket billionaire said he wants to buy CNN and that he just wants $1 per year for it
▼ + stars: | 2023-06-09 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

New York supermarket billionaire John Catsimatidis said he wants to buy CNN, per the New York Post. "I'd go run the place tomorrow morning, and all I'd want is $1 per year and a piece of the upside," he said. Catsimatidis — an outspoken Trump supporter — has a net worth of $4.1 billion, per Forbes. Just two days after embattled CNN CEO Chris Licht stepped down from his role in the aftermath of a brutal profile of his leadership, a New York supermarket billionaire said he wants to buy CNN from its parent Warner Bros. That is the craziest thing in the world," Catsimatidis — an outspoken Trump supporter — told 77 WABC.

Persons: John Catsimatidis, Catsimatidis, Trump, —, Chris Licht, Sid Rosenberg, Catsimatidis —, Forbes —, Donald Trump's, Donald Trump Organizations: CNN, New York, Forbes, Morning, Warner Bros ., WABC, Wall Street Journal, Warner Bros Locations: York, New York, New York City

☆ 7 life lessons from this year's most memorable graduation speeches
▼ + stars: | 2023-06-05 | by ( Reena Koh | ) www.businessinsider.com time to read: 1 min

Billionaire Bill Gates said "you are not a slacker if you cut yourself some slack"Bill Gates has a net worth of $113.9 billion per Forbes. Alex Wong/Getty Images"My last piece of advice is the one I could have used the most. In his commencement speech, Gates shared that he "didn't believe in vacations." Only as he got older, he realized that "there is more to life than work." Take time to nurture your relationships, to celebrate your successes, and to recover from your losses," he added.

Persons: Bill Gates, Alex Wong, Gates, didn't Organizations: Forbes, Northern Arizona University

☆ Russia destroyed Ukraine's 'last warship' in Black Sea missile attack, defense ministry said
▼ + stars: | 2023-06-02 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

The Ukrainian Navy's "last warship" was destroyed, a Russian Defense Ministry spokesman said. The Yuriy Olefirenko was hit with "high-precision weapons" in the port of Odesa, Russia claimed. Russia said the Yuriy Olefirenko was hit on Monday with missiles, which Konashenkov called "high-precision weapons," per Reuters. Russia has rarely targeted the port after signing the UN-backed Black Sea Grain Initiative last year. Whichever side holds the piece of land can control ship traffic between the ports of Kherson and Mykolaiv and the Black Sea, per Forbes.

Persons: Yuriy Olefirenko, —, Igor Konashenkov, Konashenkov, Frederik Mertens, Mertens Organizations: Russian Defense Ministry, Ukrainian Navy, Service, Ukrainian, Russian Defence Ministry, UN, Forbes, Navy, Hague, Strategic Studies, Newsweek Locations: Odesa, Russia, Telegraph, Ukraine, Soviet, Kherson —, Dnipro, Kherson, Mykolaiv, Ukrainian

☆ A Chinese EV billionaire's wealth has plummeted 75% to $1.4 billion as aggressive price wars push customers to higher-tier cars — like Tesla or BYD
▼ + stars: | 2023-05-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The fortune of He Xiaopeng, CEO of Chinese EV maker Xpeng, has fallen 75% from a 2021 peak. He owns 20.5% of Xpeng shares, which tanked nearly 20% this year. Despite the wealth wipeout, He is still the 2,048th richest person in the world — although his net worth is now just a quarter of his $5.5 billion wealth in 2021, per Forbes. The Alibaba-backed company's first-quarter net loss also widened to 2.34 billion yuan from 1.7 billion yuan a year ago. The EV maker launched its first mass-produced model, the G3, in 2018.

☆ Revolut's US CEO outlined the threat Apple's new high-yield savings account poses to neobanks
▼ + stars: | 2023-05-17 | by ( Paige Hagy | ) www.businessinsider.com time to read: +3 min

The CEO of at least one digital bank is keeping an eye on Apple's new high-yield savings account. The Big Tech giant launched a savings account with a 4.15% annual percentage yield (APY) through its partnership with Goldman Sachs on April 17. In its first four days of launch, it brought in nearly $1 billion in deposits, according to reporting by Forbes. The savings account is only available to people who have Apple Card — Apple's credit card — but the account has no minimum deposit or balance requirement. Apple's savings account beats this average by tenfold.

☆ 'Free speech opportunist' Elon Musk caved to government pressure to censor tweets ahead of the Turkish election. Critics argue SpaceX dealings with the country's right-wing leader may have caused the
▼ + stars: | 2023-05-14 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Elon Musk's reputation as a free speech absolutist took another hit on Saturday after Twitter sided with the Turkish government and censored the accounts of political opponents ahead of a contentious election. Targeted Turkish dissidentsThe details of the legal request and which specific accounts were targeted were not made public. Yakut had previously shared information about Erdogan's governmental dealings and alleged the Turkish leader had been involved in the disappearance of his son-in-law, Turkish Minute reported last week. "I'm sure this is just a coincidence," users on Twitter posted, some sarcastically, circulating news of Musk's business dealings with Turkey. Musk and representatives for Twitter, SpaceX, and the Republic of Turkey did not immediately respond to Insider's requests for comment.

☆ Aston Martin may have earned up to $80 million in sales due to its safety cars featuring in F1 races, its boss suggests
▼ + stars: | 2023-05-10 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Aston Martin boss Lawrence Stroll suggested the firm made up to $80 million selling F1 safety cars. The CEO took control of Aston Martin in 2020, but it's failed to recover massive share price losses. Aston Martin's boss suggested the carmaker might have gotten an $80 million boost from its car featuring in Formula One races. That would suggest Aston Martin has taken between $60 million and $80 million worth of sales linked to its safety car. Stroll's son Lance is a driver on his Aston Martin team, alongside two-time world champion Fernando Alonso.

☆ Meet the billionaire family behind Tyson Foods, the beef, pork, and chicken juggernaut whose heir apparent has battled legal troubles
▼ + stars: | 2023-05-10 | by ( Dominick Reuter | Katie Warren | ) www.businessinsider.com time to read: +1 min

Tyson Foods owns brands including Jimmy Dean and Hillshire Farm, producing roughly 20% of America's beef, chicken, and pork. The Arkansas-based company made $53.6 billion in sales last year and has been family-run for generations. Chairman John H. Tyson and his family are worth $2.3 billion, making the Tysons one of the country's wealthiest families. The company has been family-run ever since it was founded in 1931, with chairman John H. Tyson — grandson of founder John W. Tyson — and his relatives controlling a majority of the company's stock. Here's a look at the massive beef, pork, and poultry company and the billionaire family behind it.

☆ You can now buy secondhand Rolex watches as the luxury brand's certified pre-owned program hits the US
▼ + stars: | 2023-05-05 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Rolex introduced its certified pre-owned program to US customers on Wednesday. Starting this week, shoppers can buy pre-owned Rolex watches from an official Rolex reseller. "This new program, therefore, attests to the authenticity of these pre-owned Rolex watches at the time of resale by the Official Rolex Jewelers." Rolex first introduced its secondhand program to the world in December 2022, launching in countries including Switzerland, Germany, and France. Prior to the announcement, American watch collectors had to seek out resellers with authentication programs like Bob's Watches for pre-owned luxury watches.

☆ A new NIL report based on over 100,000 deals breaks down the highest-paying sports for college athletes and the industries spending the most
▼ + stars: | 2023-05-05 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Nearly two years after student-athletes gained the right to make money from their names, images, and likenesses, typically referred to as NIL, the tech platform Opendorse said it's processed over 100,000 NIL deals across the US. Snapchat and TikTok were much less common, representing just 6% and 3% of activations of NIL deals, respectively, per Opendorse's report. The average brand deal paid to athletes in the sport was $3,837, followed by $2,472 for football players and $1,693 for men's swimming and diving athletes. Women's college basketball players were the fourth highest earners on average for brand deals, with an average of $1,418 per deal. Haley and Hanna Cavinder earned nearly $2 million in NIL deals in the first year of the program, for example, per Forbes.

☆ 4 key takeaways on student-athlete NIL marketing from a new report that includes the industry's biggest earners and spenders
▼ + stars: | 2023-05-02 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Here are the biggest NIL earners and spenders, and other key takeaways from a new Opendorse report. Nearly two years after student-athletes gained the right to make money from their names, images, and likenesses, typically referred to as NIL, the tech platform Opendorse said it's processed over 100,000 NIL deals across the US. Snapchat and TikTok were much less common, representing just 6% and 3% of activations of NIL deals, respectively, per Opendorse's report. Women's college basketball players were the fourth highest earners on average for brand deals, with an average of $1,418 per deal. Haley and Hanna Cavinder earned nearly $2 million in NIL deals in the first year of the program, for example, per Forbes.

☆ Beyoncé petitions IRS over $2.7 million in tax penalties, claiming government denied her millions in deductions and charitable donations
▼ + stars: | 2023-04-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Beyoncé is challenging the IRS over its assessment of $2.7 million in taxes and penalties. The singer alleges the agency rejected over $800,000 in charitable donations, according to the petition. The notice claimed Beyoncé owes over $1.4 million in additional tax and over $288,000 in penalty for 2019. For 2018, it alleged the singer owes about $805,000 in additional tax and $161,000 in penalty, according to Forbes. In her 20-page petition, Beyoncé argues that the agency refused millions of dollars in deductions, including $868,766 attributable to a charitable contribution carryover from 2018.

☆ Ivanka Trump distanced herself from her family by hiring her own lawyer for an upcoming lawsuit against the Trump Organization: report
▼ + stars: | 2023-04-27 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Ivanka Trump has hired her own lawyer to represent her in an upcoming $250 million civil lawsuit, per Forbes. She ditched the attorneys representing her brothers — Donald Trump Jr. and Eric Trump. Shortly after the lawsuit was filed in September, the Trump brothers hired attorneys Clifford Robert and Michael Farina to represent them. The following month, Ivanka Trump also retained the attorneys to work alongside two Washington, D.C. lawyers, Reid Figel and Michael Kellogg, whom she had hired separately, per Forbes. Insider contacted Robert, Farina, Figel, Kellogg, Moskowitz, and the Trump Organization for comment but did not immediately receive responses.

☆ Russia minted 22 new billionaires last year, even as the West slapped sanctions on the country to try to cripple it financially
▼ + stars: | 2023-04-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russia minted 22 new billionaires in 2022, per Forbes World's Billionaires List. There are now 105 Russian billionaires worth $474 billion collectively — up from $320 billion on-year. The fortunes of some Russian billionaires have been boosted by high commodity prices. In the US, 735 billionaires saw $200 billion wiped off their collective net worth between March 2022 and 2023, per Forbes. In China, 735 billionaires saw their net worth crash by $300 billion in the same period, per Forbes.

☆ Kanye West and Sam Bankman-Fried lose billionaire titles on Forbes' annual rich list
▼ + stars: | 2023-04-05 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried and Ye, formerly known as Kanye West, have dropped off Forbes' billionaire list. Bankman-Fried's net worth tumbled from $24 billion in 2022 to less than $10 million, per Forbes. Bankman-Fried's net worth tumbled from $24 billion in 2022 to less than $10 million, according to Forbes wealth reporter Richard J. Chang. Bernard Arnault and his family topped the list with a net worth of $211 billion, according to Forbes. Forbes estimated the billionaire had around $39 billion knocked off his total net worth last year.

☆ Jeff Bezos was the biggest net-worth loser in the last year, with his fortune dropping $57 billion, according to Forbes
▼ + stars: | 2023-04-04 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Jeff Bezos' net worth dropped more than anyone else, down $57 billion from March 2022. But he's still the third-richest person in the world, with a $114 billion fortune, per Forbes. Bezos' net worth is down $57 billion from last March but still sits at a cool $114 billion, making him the world's third-richest person, according to Forbes. This year's list included 313 tech billionaires worth a collective $1.9 trillion, down from 332 tech industry titans worth $2.1 trillion last year, per Forbes. In 2021, a red-hot year for the industry, Forbes identified 365 tech billionaires worth a record $2.5 trillion.

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